Economic recovery is under way, but there's still a long way to go, according to Anirban Basu, chief economist at Associated Builders and Contractors. He presented his analysis during an Aug. 12 webinar for the association.
Basu pointed to May and June jobs reports—with gains of 2.7 million and 4.8 million jobs respectively—as the start of a recovery period, but he remained cautious during the webinar titled “Six Months In, What is the Trajectory of Construction’s Recovery from COVID-19?” July’s jobs dropped to 1.8 million added, largely because of a resurgence of the virus in the South, where re-opening plans are being put on hold or even reversed.